ST Aerospace clinches S$520m worth of new contracts in Q3

SINGAPORE Technologies Engineering (ST Engineering) on Friday announced that its aerospace arm, ST Aerospace, has secured new contracts worth S$520 million in the third quarter of 2016.

These include the passenger-to-freighter (P2F) conversion of four Airbus A330-300 planes for DHL Express, announced in July. ST Engineering said the first aircraft has been inducted into EFW, ST Aerospace's facility in Dresden, Germany.

In addition, there were line and heavy maintenance contracts clinched, such as the five-year agreement with "an international airline" to provide airframe heavy maintenance support for the airline's Boeing 767 and 777 fleet. ST Aerospace will also refurbish the cabin interiors of seven of its Boeing 777-300ER aircraft.

The aerospace sector also redelivered a total of 858 aircraft for airframe maintenance and modification work in Q3. Moreover, a total of 11,772 components, 35 landing gears and 42 engines were processed, while 2,537 engine washes were conducted. Ninety-eight composite shipsets were delivered to the aircraft OEM (original equipment manufacturer).

The above developments are not expected to have any material impact on ST Engineering's financials for the current financial year, said the company.